Finance Advisor requests technical assistance from World Bank on pension reforms
Finance Advisor requests technical assistance from World Bank on pension reforms
ISLAMABAD (Dunya News) - The newly elected Country Director of the World Bank Najy Benhassine met Finance Advisor Dr Abdul Hafeez Sheikh on Thursday. In the meeting, the Finance Advisor requested technical assistance from the World Bank in pension reforms.
According to details, an introductory meeting was held between Dr Hafeez Sheikh and the new Country Director of the World Bank. The Country Director said that 56 World Bank projects, costing around 11 billion dollars, are currently underway in Pakistan. These include projects regarding financial reform and human development.
Dr Abdul Hafeez Sheikh praised the World Bank’s co-operation with Pakistan, saying coronavirus had slowed down the country’s economic reforms but the government has managed to stabilize its economy. Under the Ehsaas program, 16 million poor families were given financial aid, while small businesses were given easy loans and subsidies on electricity bills.
During the meeting, the Finance Advisor also requested the World Bank to provide technical assistance to Pakistan in its plan of pension reform. The Adviser also highlighted the reforms made by the government during the financial year 2018-19 to address the crisis of pay imbalances and stabilize the economy.
It should be noted that at the height of the pandemic, the World Bank had provided 500 million dollars in emergency aid.
